July 12, 2022<\/p>\n\n\n\n
By Murtuza Merchant<\/p>\n\n\n\n
The new NFT marketplace myNFT has announced its upcoming launch, off the back of a successful Series A funding round. <\/p>\n\n\n\n
In the round, the London-based NFT marketplace secured funding from some of the biggest names in blockchain today. <\/p>\n\n\n\n
As a result, myNFT has the resources to work toward its mission of making NFTs accessible to all. As mentioned above, the primary goal of myNFT is to make the NFT market more accessible.\u00a0<\/p>\n\n\n\n Indeed, myNFT notes the many barriers to entry for newcomers to the NFT space. Thus, its new marketplace is working to remove those barriers for NFT traders. <\/p>\n\n\n\n This includes lowering costs through its 2% market fee, supporting both multi-chain and fiat payment methods, and much more. Either the bidder makes money when they are outbid, or they win the auction. This potentially revolutionary \u201cbid-to-earn\u201d auction system obviously adds a lot of fun to NFT auctions. Significantly, myNFT is built on the Moonbeam parachain. For those who don\u2019t know, Polkadot is an open-source blockchain founded by Ethereum co-founder Gavin Wood.\u00a0<\/p>\n\n\n\n In fact, Polkadot is known as \u2018the internet of blockchains\u2019 because it connects blockchains. Thanks to the combination of using Polkadot alongside myNFT\u2019s own technical architecture, myNFT users will be able to use Ethereum, Moonbeam & Moonriver, Polygon, and Binance Smart Chain at launch. For example, myNFT users will eventually be able to create, trade, and migrate NFTs between any blockchain. And all at low costs. Users on myNFT would not have to deal with anything like the massive gas fees that Ethereum users have to pay for many transactions. The experience of myNFT\u2019s three co-founders played a huge role in shaping the platform. <\/p>\n\n\n\n To clarify, Hugo McDonaugh, Edouard Bessire, and Guillaume Gonnaud have been working in the NFT space since the very early days. About the author<\/strong><\/strong><\/p>\n\n\n\n Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":" July 12, 2022 By Murtuza Merchant The new NFT marketplace myNFT has announced its upcoming launch, off the back of a successful Series A funding round. 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Everything you need to know about the myNFT marketplace<\/strong><\/p>\n\n\n\n
One such key feature available on launch day is the platform\u2019s fiat onramp. To explain, this will allow people to buy and sell NFTs using fiat currencies like the British Pound Sterling (\u00a3) and US Dollars ($).
myNFT is also utilizing a brand new auction system called GBM. Amazingly, a GBM auction only has two outcomes. <\/p>\n\n\n\n
The new NFT platform uses Moonbeam Parachain on Polkadot<\/strong><\/p>\n\n\n\n
This allows people to send data across networks that would otherwise be incompatible. <\/p>\n\n\n\n
Clearly, building on Polkadot enables myNFT to offer its users an array of unique features. <\/p>\n\n\n\n
myNFT\u2019s successful Series A funding round<\/strong><\/strong><\/p>\n\n\n\n
Most recently, they launched the platform Cryptograph. To sum up, the platform enabled Hollywood celebrities and artists to create their own NFTs and give a portion of the proceeds to a charity of their choice. <\/p>\n\n\n\n